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This growth was driven by higher export values of key products, including petroleum products up by 121.5%, crude oil up by 31.7%, ready-made garments up by 15.6%, and various food preparations up by 24.0%.
Egypt’s trade balance deficit recorded a notable decline, reaching US$3.66 billion in October 2024 compared to USD 4.36 billion in the same month of the previous year, registering a 16% decrease, according to the latest report released by the Central Agency for Public Mobilization and Statistics (CAPMAS).
The value of exports saw a significant increase of 21.3%, rising to USD 4.07 billion in October 2024 from USD 3.35 billion in October 2023. This growth was driven by higher export values of key products, including petroleum products up by 121.5%, crude oil up by 31.7%, ready-made garments up by 15.6%, and various food preparations up by 24.0%.
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However, some export categories experienced a decline, such as fertilisers down by 14.2%, pharmaceuticals down by 36.6%, flat-rolled iron or steel products down by 56.0%, and ceramic tiles and sanitary ware down by 1.0%.
The value of Imports rose slightly by 0.2%, amounting to USD 7.73 billion in October 2024 compared to USD 7.71 billion in October 2023.
